Look - it's very simple - or is it? It depends on your definition of the word "hold".
You are correct that team control was lost on the shot. Team control is one of the four elements required for this call. During a period of no team control, team control is established when a player establishes player control. Player control is defined as a player holding or dribbling a live ball inbounds.
So, again - it boils down to your definition of "hold". Did the player hold the ball at any time or not. If you feel he did, you have a violation. If you feel he did not, you have no violation.
That's why we get the big bucks.
